What I Learned This Week

Global central bank interest in buying gold is increasing. Will China’s hoarding of gold intensify this trend?

We recently learned that the World Gold Council (WGC), which has relationships with 165 central banks worldwide, has been bombarded with inquiries from central banks. The World Gold Council’s chief market strategist recently emailed us, as follows: “We are seeing a lot of enquires from central banks (and that interest has increased over the past few years) about how to buy (and store, upgrade and transport) gold.” De-dollarization is an enduring trend, discussed often in these pages, that is likely to intensify as a result of Washington’s strong-arm tactics and the geopolitical and economic risks of U.S. dollar hegemony. Gold is increasingly coming to be viewed as a prudent way to protect e…

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